The main chips collapsed on Saturday when investors digested the implications of Moody’s grades that reduced the credit score of the United States, with Ethher (ETH), XRP and Dogecoin (Doge) that fall approximately 3%.
The largest cryptographic market remained at $ 3.3 billion, raising previous profits after briefly touching the maximum of the week.
The measure occurred after the qualification of the sovereign credit rating of the United States giant to AA1 of AAA, citing the country’s swollen deficits, the increase in interest expenses and the lack of political will to control spending.
The firm now binds to Fitch and S&P in the allocation of a qualification below the triple state, once disturbing, the state of the world’s largest economy.
As such, the White House responded quickly, and the spokesmen of President Donald Trump criticize the decision as politically motivated.
The reduction had an immediate effect on traditional markets: the yields of the United States Treasury increased, and the 10 -year note increased to 4.49%, while future S&P 500 fell 0.6% in trade away trade.
Historically, concerns about the sustainability of the debt of the United States and dollars have served as tail winds for Bitcoin and other decentralized assets. However, credit sales can also trigger short -term risk behavior, particularly if macro uncertainty leads institutional merchants to reduce exposure.
Meanwhile, some merchants warned about a deeper mass sale in the short term on the general profits before the next rally.
“Bitcoin is maintaining the $ 104,000 brand as a key level and the positive factor is that sellers have not yet managed to take advantage of the market control,” said Alex Kuptsikevich, FXPro’s chief market analyst, Codendesk in an email. “However, resilience at high levels can be temporary before the next rebound, and there is considerable pressure near the upper limit of the current range.”
“In other words, the short -term perspective suggests a decrease in current levels,” said Kuptsikevich.
